The Following Information Is Needed to Reconcile the Cash Balance

question 86

Multiple Choice

The following information is needed to reconcile the cash balance for Woods Paper Products. • A deposit of $5,794.62 is in transit.
• Outstanding checks total $1,533.25.
• The book balance is $5,695.62.
• The bookkeeper recorded a $1,524.00 check as $15,240 in payment of the current month's rent.
• The bank balance at February 28,2008 was $16,500.25.
• A deposit of $300 was credited by the bank for $3,000.
• A customer's check for $1,280 was returned for nonsufficient funds.
• The bank service charge is $70.
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What was the adjusted bank balance?

• A) $6,472.38
• B) $18,061.62
• C) $9,355.63
• D) $14,938.88

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Definitions:

Deter

To discourage or prevent from acting, typically through the threat of negative consequences.

Shoes

Footwear items designed to protect and comfort the human foot while also providing fashion and style.

Damages

Compensation or monetary awards given to a party in a lawsuit for losses or injuries suffered as a result of another party's actions or negligence.

Negligence Per Se

Negligence per se is a doctrine in tort law where an act is considered negligent because it violates a statute or regulation.